Barack Obama pulls a fast one with fringe like wife Michelle at White House dinner gag

In his traditional send-up speech US President Barack Obama earned some laughter at his own expense and also punched some funny blows against the media and the Republican Party.

Obama opened with a joke about his time in office and pulled a fast one on CNN for mistakes poking fun at the revolving door between politics and the media.

The President made fun about conspiracy theories that exist about his past, joking, he said, "I'm not the strapping young Muslim socialist that I used to be."

On his appearance, Obama noted his greying hair and in line with that presented a picture of himself photo-shopped with wife, Michelle Obama style bangs.

This had the First Lady rolling with laughter as she sat next to comedian Conan O'Brien as her husband delivered his rib-tickling speech.

Explaining why he showed himself with the fringe-look, Obama said he wanted 'a little energy' and a 'bit of change' for his second term so went for the new look.

Obama also joked about his relationship with singer Beyonce and her husband Jay-Z as he said, :I've got 99 problems and now Jay- Z is one."

Beyonce was chosen by Obama and his family to sing the US national anthem at his swearing-in ceremony earlier this year.

A number of famous faces were seen at the event with the likes of Katy Perry, Olivia Munn, Korean rapper Psy, Steven Spielberg, Gerard Butler, Sharon Stone, etc to name a few.